Potential market for Colombia in trading with the Caribbean countries

Abstract

Commercial agreements and free trade treaties –FTT, have facilitated identification of new international markets. The Caribbean countries become potential markets. Which have not been properly taken advantage of. They are great business opportunities for Colombia, especially for companies and investors. This region provides great advantages because of its strategic location for US, European Union, South America, and Asian countries market, by turning into a logistic platform to strengthen its commerce. This research led to release advantages and benefits currently provided by the Caribbean countries, such as stability and security to investors planning to settle either inside or outside Free Zones, create new production centers, with excellent tariff fees and tax on return remittances, thus strengthening Colombian companies competitiveness toward foreign markets. In addition, foreign territories, (French, Dutch, British and American), held in the Caribbean region, facilitate goods exchange with EU countries, and the United States, through tariff preferences granted by CARICOM agreement, and other with important characteristics related to products produced in this region, which serves its expansion and economic development. Therefore, the Caribbean region becomes a potential market for Colombia, specially for suppliers, as a result of imports performed by this region from the rest of the world, which poses a great challenge to improve quality of our products and services, strengthen productive sectors, and increase competitiveness.